Shares of Signet Industries surged 20% today after the company announced that it has been allocated 20,000 hectares of land by the Andhra Pradesh Micro Irrigation Project (APMIP) for the installation of micro-irrigation systems.
This project is expected to generate ₹150 crore in revenue and significantly boost the company’s involvement in enhancing agricultural efficiency in the region.
The company via exchanges stated – “Pursuant to Regulation 30 of SEBI (ListinE Obligation and Disclosure Requirements) Regulatio_n, 20IE Signet Industries Limited is glad to announce that our Cormpany has been aliJcat.dlz0,o00 hectares of land for the installation of micro-irrigation systems on farmers’ fields by the Andhra Fradesh Micro Irrigation Project (APMIP)” Team Signet is working diligently to expedite the process and to ensure timely execution. This development is expected to significantly contribute to enhancing agricultural efficiency and sustainability in the region and generate approximately Rs. 150/- Crores of revenue for the Company.”
As of 2:51 PM, Signet Industries’ shares were trading at ₹85.80 on NSE, reflecting strong investor confidence in the company’s latest development
